KATHMANDU: The Lumbini provincial government has unveiled a budget of Rs 38.91 billion for the upcoming fiscal year 2082/83. Minister for Economic Affairs and Planning Dhanendra Karki presented the budget at the Provincial Assembly on Sunday.
Of the total allocation, Rs 12.01 billion (30.88%) has been earmarked for recurrent expenditure, while Rs 23.47 billion (60.32%) has been set aside for capital expenditure. An additional Rs 3.42 billion (8.8%) has been allocated for fiscal transfers.
The government aims to finance the budget through multiple sources. Internal revenue is projected at Rs 7.78 billion, revenue sharing from the federal government at Rs 11.86 billion, royalties at Rs 415 million, and shared revenue from local levels at Rs 2.83 billion.
In addition, the province expects to receive Rs 8.44 billion in fiscal equalization grants, Rs 4.66 billion in conditional grants, Rs 514 million in supplementary grants, and Rs 400 million in special grants. The budget also plans to utilize Rs 2 billion from the provincial cash reserve.
In the current fiscal year, Lumbini had allocated a budget of Rs 38.97 billion, with Rs 11.24 billion for recurrent expenses, Rs 24.58 billion for capital expenditure, and Rs 3.14 billion for fiscal transfers.
Revenue targets for the ongoing fiscal year include Rs 7.51 billion in internal income, Rs 12.01 billion from federal revenue sharing, Rs 501.7 million from royalties, and Rs 2.92 billion from local-level revenue sharing, alongside additional grants from the federal government.
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